Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI for May 2024 rose by 0.77% year-on-year. Among the various sections of goods and services, the price indices of Education (+5.06%), Health (+2.76%) and Clothing & Footwear (+2.60%) saw notable year-on-year growth. In addition, the price indices of Food & Non-Alcoholic Beverages (+1.20%) and Housing & Fuels (+0.57%) increased owing to higher charges for eating out, dearer prices of liquefied petroleum gas and rising electricity charges. On the other hand, the price indices of Transport (-2.99%) and Recreation & Culture (-0.91%) dropped. The CPI-A and CPI-B recorded respective increases of 0.75% and 0.80% year-on-year.

In comparison with April, the Composite CPI fell by 0.02% in May. The price indices of Recreation & Culture (-2.01%), Transport (-0.82%) and Household Furnishings & Services (-0.05%) recorded decreases, whereas the price indices of Clothing & Footwear (+0.84%), Health (+0.49%) and Food & Non-Alcoholic Beverages (+0.23%) increased. The CPI-A remained stable month-on-month, while the CPI-B dipped by 0.04%.

For the 12 months ended May 2024, the average Composite CPI grew by 1.03% from the previous period, with notable rises in the price indices of Education (+6.19%), Recreation & Culture (+5.93%) and Clothing & Footwear (+4.48%). The average CPI-A and CPI-B rose by 0.89% and 1.22% respectively over the previous period.

The average Composite CPI for the first five months of 2024 climbed by 1.05% year-on-year. The average CPI-A and CPI-B went up by 0.97% and 1.16% respectively.

DSEC compiles three separate CPI series to reflect the impact of price changes for goods/services on households of different expenditure ranges. The CPI-A and CPI-B relate to about 50% and 30% of the households, which have an average monthly expenditure of MOP12,000-MOP35,999 and MOP36,000-MOP62,999 respectively. The Composite CPI relates to all the above-mentioned households; Housing & Fuels, Food & Non-Alcoholic Beverages and Transport accounted for relatively large proportions of household expenditure, with respective weights of 33.75, 27.94 and 7.84.